The criminal banking system is the dinosaur in the living room

in informationwar •  9 months ago 

As most will be aware by now, the concerns regarding a recession in the economy are getting stronger by the day. It’s questionable whether we will ever come out of the next recession, but if we do then when growth starts again, look at what happens to debt. It will rise and keep rising. The faster the economy is growing, the faster the debt will rise, and then give it another 3-5 years and we’ll be back where we were. The debt will become too much and people will start defaulting again. This is the system we are locked into right now.
bank vault door pixa.jpg
We can’t grow the economy without growing the debt and the debt is the very thing that will bring down the economy. The only solution is to reform the system, to stop banks from creating money as debt. By fixing the monetary system we can prevent the banks from ever causing another financial crisis. This will prevent the need for public cuts and tax rises and make it unnecessary to increase the national debt.

The current monetary system allows the banking sector to extract wealth from the economy, while providing nothing productive in return. Why is it that today we have all this modern technology yet it requires two people to finance a household, whereas in the fifties it only needed one person working. The reason is not because new appliances are more expensive, it’s because of all the debt and because the banking sector is effectively creaming it off from everybody else. So a growing banking sector is not actually a good thing. It simply implies that it’s becoming less efficient or it’s becoming a parasite on the rest of the economy. Without tackling the elephant in the room – the fraudulent money issue, we will never be able to solve the human issue. Bitcoin and cryptocurrency is an attempt to bypass the questionable economic system that is based on the modern banking industry.

The poorest in the world pay for the crises. Even when they have not benefited from the reckless speculative booms in housing or anything else. The rich have become richer thanks to cheap credit, and by providing debt to people who couldn’t afford things any more, so the keep buying. And when it collapses, it’s those very same people that have to pay once again, despite being the victims the first time.

Debts between the very wealthy can always be renegotiated and always have. It’s only the debts of the poor to the rich that become a sacred obligation.

Traders in the stock market don’t care about how “they” are going to fix the economy or fix the whole broken situation. Their job is just to make money from it. They see the recession and they just profit from it, regardless of who gets destroyed at the bottom of the pile.

Why is it that in 2012 the new Prime Ministers of Greece (Papademos) and Italy (Monti), the new president of the European Central Bank (ECB) are former employees of Goldman Sachs? These people are not elected, they are chosen from the banking sector, who are the very people who got us into the mess to start with, and now we are told that they are going to get us out of the mess. Democracy has been hijacked by the banking elite. Macron was a banker before becoming President of France.

RBankOfScotland whistleblower Paul Moore:
The 2008 banking crisis drove 100 million people back into poverty. The mortality stats for people who go into poverty rise hugely for numerous reasons, as a result so it isn’t just that they made people poorer, but they actually killed people with Financial Weapons of Mass Destruction. And we never got to the bottom of it, we never held anyone to account, no essential radical reform has been done, because we mistakenly thought that by destabilizing the position further, it will make matters worse. And who made that decision? The people who caused the problem in the first place.

Resistance to banking monopoly
We need localized new crypto and alternative currencies, usually shut down by governments or central banks as a threat to the fiat. Even barter with silver is considered “domestic terrorism” by the US attorney. Nevertheless we need a digital revolution that will leave the old order in the dust. It’s on its way, let’s make it work in a trustless but proven way.

Power House Creatives _night mode.png

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A lot of people are concerned about crypto because they don't understand it, but I don't think the recession will be an economy killer. I think it may be coming, but it could be good for crypto. And I think we'll pull out of it.

Yes recessions come and go, and the rich benefit usually in what they call a wealth transfer from the poor to the rich, or from the uneducated to the savvy. This recession looks like it could be a big one, so fortunately Bitcoin is now available as a safe haven. It won't make me that rich since I don't have that much to invest in the first place, so again it favors the already rich far more. Nevertheless, some profit may arrive from my investment in day. I'm willing to wait a few more years.

Me too.

It's difficult to imagine that we are on the verge of the most important financial revolution since the middle ages. I don't think the resistance to cryptocurrencies is so strong because governments want to hold on to power. I think it is just being done carefully to avoid massive mistakes and serious issues with regulation. For example, if the value of BTC went up 100000X suddenly, what are we going to do with all these new and anonymous trillionaires? Then there is the issue of the missing BTC and Satoshi. Let's imagine this all actually belongs to an autocratic government that treats human and civil rights like an inconvenience or a nuisance. Given our current system has been in place for 800 years or so, I think 30 to 50 years is fast enough and we are only around year 10 or around 5/6 years if we go with when BTC started making occasional news and governments got worried.

Yes we are still at the early stage of the revolution and it may well need a decade more or so, before the transition to digital is introduced, including Bitcoin. We shouldn't rush it. Satoshi's identity and especially his locked up Bitcoin treasure may remain a mystery. If someone hasn't figured out how to access it yet after ten years, I doubt it will ever be accessed. And Bitcoin will continue to be lost over the years to come as people make mistakes or lose keys. 4 million is already gone apparently out of 21 million. That is a huge chunk.

Banks are changing I learned that even football clubs and their transactions bot crypto and others are not welcome at the biggest bank in Holland till more info is given

Aha, just see, it's all in a time of change now economically.

Aha, just see, it's
All in a time of change now

                 - julianhorack

I'm a bot. I detect haiku.

Of course there is resistance to cryptocurrencies because it means the big corporations and banks will lose their control over people and their profits. It's only a matter of time before people get wind and know more about BTC and other currencies before they realise. Although I feel most just like burying their heads in the sand

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So few people know about finance and investment and economics and of those that find out about Bitcoin, many are either old school and skeptical on one hand, or uneducated and scared on the other, so they miss the solution to their problems namely Bitcoin.

Yep - would like to add a third as well to that. People are also very lazy if it requires hard work to understand and get your head around, they won't bother and will "happily" put up with the crap for as long as they can until necessity forces a change.

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I tell my three children "whatever you do, do not borrow money". Of course my friends are telling their kids that 16% (or something like that) of their income is good to carry in debt. They even get taught this nonsense in finance classes in college!
They are also taught that having cryptocurrency is crazy.

Call me crazy then.

Thanks for letting us know your thoughts on this.

Hi there and thanks for the comments. The economic and financial system taught to the youth, telling them to promote debt, is a plot to entrap the world in a corrupt system. Capitalism is based on debt, which is a dubious system in my opinion. It needs a revolution.
I have no debt at all and have never ever taken a loan or gone into debt in my life. Being debt free, I am richer than many millionares, though I own no property. It is also a state of mind. My moral choice is to avoid debt.

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There are many reasons why only one had to work in the 50s, yet often two must work now. Part of the issue is that now many families of 4 live in houses that are much bigger than in the 50s. Houston is filled with mid-century modern style homes that are around 1500 sq ft. These are now being knocked down to build 2500 to 4000 sq. ft single family homes. Of course, the other reason is that salaries have not kept pace with inflation, so now two people work, and many families need two cars, or more once teens start driving (poor public transit here in Houston). The lack of rising salaries led to credit cards. Since the economy depends on constant consumer spending, banks figured out that they could just loan consumers money to spend, since they weren't being paid enough. Of course, all of that credit card debt is just more money created out of thin air. At some point, it must all come crashing down. In theory, fractional reserve lending provides an elastic money supply that helps grow value, but with consumer debt and predatory lending, the loans are not backed by much value, hence the problem.